Asset Management

  • July 19, 2024

    Rising Star: Latham's Oliver Prakash-Jenkins

    Oliver Prakash-Jenkins of Latham & Watkins LLP advised infrastructure investment manager American Triple I on its fundraise for the $4.2 billion development of a new terminal at New York City's John F. Kennedy International Airport, and in just the past month has seen two projects that both involved investments of over $1 billion close, earning him a place among the fund formation law practitioners under 40 honored by Law360 as Rising Stars.

  • July 19, 2024

    Nelson Mullins Gains Md. Estate Atty From Baker Donelson

    Nelson Mullins Riley & Scarborough LLP announced the 16th estate planning and trusts attorney to join the firm, this time from Baker Donelson Bearman Caldwell & Berkowitz PC.

  • July 19, 2024

    Cooley, Latham Lead Biotech Firm Artiva's Upsized $167M IPO

    Venture-backed Artiva Biotherapeutics Inc. rallied in debut trading Friday after the drug developer priced an upsized $167 million initial public offering below its price range, represented by Cooley LLP and underwriters' counsel Latham & Watkins LLP.

  • July 19, 2024

    Gemini, IRA Biz Settle Fraud Case Over $36M Crypto Hack

    Cryptocurrency exchange Gemini Trust has struck a settlement deal in a suit alleging it cost customers of self-directed retirement and pension account provider IRA Financial Trust $36 million in crypto-assets in a cyberattack after misrepresenting its security capabilities, according to a filing in New York federal court.

  • July 18, 2024

    DaVita To Pay $34M In Medicare Kickback Whistleblower Suit

    Dialysis company DaVita will pay more than $34 million to settle a Medicare fraud case over alleged kickbacks doctors received in exchange for patient referrals, after a whistleblower from the company's C-suite came forward, the U.S. Attorney's Office for the District of Colorado announced Thursday.

  • July 18, 2024

    5th Circ. Remands ESG Rule Row Citing Chevron's End

    The Fifth Circuit on Thursday instructed a Texas federal court to reconsider a Biden administration rule allowing retirement plan advisers to consider environmental, social and governance factors when choosing investments, pointing to recent U.S. Supreme Court rulings that have "upended" the legal landscape.

  • July 18, 2024

    4 Men Cop To $2M 'Instant Deposit' Robinhood Fraud

    Four men have pled guilty in New York federal court to being involved in a scheme to steal millions of dollars from trading firm Robinhood by exploiting a program that gave them access to cash advances.

  • July 18, 2024

    Chancery Awards $6M Stockholder Atty Fee In Moelis Suit

    A Delaware vice chancellor granted a $6 million fee request on Thursday from attorneys who won a Chancery Court strike-down of a stockholder agreement granting Moelis & Co. founder Ken Moelis expansive control over the global investment bank's decisions.

  • July 18, 2024

    LPL Reaps Benefits From Forced Cash Sweep, Suit Says

    LPL Financial was hit with a putative class suit by a customer who claims the broker-dealer automatically moves customers' uninvested cash into its cash sweep programs, primarily benefiting the firm at the expense of its clients.

  • July 18, 2024

    Feds Collar Would-Be 'Smart Ring' CEO For Investor Fraud

    Los Angeles federal prosecutors have charged a Florida woman with securities and wire fraud with allegations detailing a $2 million investment scheme involving a purported "smart ring" company.

  • July 18, 2024

    Ukraine Businessman Looks To Arbitrate $1B Gramercy Suit

    A Ukrainian businessman is urging a Wyoming federal court to force Gramercy Funds Management to arbitrate in London its racketeering lawsuit accusing him of fraudulently transferring more than a billion dollars from his agricultural business, a debtor of the Connecticut-based hedge fund.

  • July 18, 2024

    6 Firms Steer Latin American Airline Giant's $533M IPO Plans

    Latam Airlines Group SA on Thursday outlined plans for an estimated $533 million U.S. initial public offering, guided by six law firms, marking a return to U.S. markets two years after the South American airline giant exited bankruptcy.

  • July 18, 2024

    Atty Says Golf Malpractice Row Already Ran Its Course

    An attorney seeking summary judgment in a legal malpractice suit told a New York federal judge that, five years and three courts later, the owners of the Foothills Club West Golf Court have still failed to produce evidence to support their allegations.

  • July 18, 2024

    Ocugen Execs Hit With Derivative Suit Over Shoddy Controls

    The top brass at biopharmaceutical company Ocugen Inc. were hit with a derivative suit alleging the company's lack of effective internal financial controls caused it to be misvalued and allowed shareholders to approve proposals based on incomplete information.

  • July 18, 2024

    Moody's Says White Ex-Director's Depo 'Fatal' To Bias Suit

    Financial analytics company Moody's on Wednesday told a Pennsylvania federal judge that it was clear a former employee who sued it for discrimination wasn't fired for being white and old, pointing to his "fatal" admission that he'd still be employed had he responded to a company vaccination survey.

  • July 18, 2024

    NJ Ex-Broker-Dealer Indicted In $3.4M Insider Trading Scheme

    A former partner at a Garden State broker-dealer was charged in New Jersey federal court with engaging in an insider trading scheme that brought him $3.4 million in illicit trading profits, according to the U.S. attorney's office.

  • July 18, 2024

    Cozen O'Connor Targets Penny Stock Co. CEO For Legal Fees

    Cozen O'Connor is asking a Connecticut state court judge to affirm two Pennsylvania judgments against a penny stock company CEO who lost a federal enforcement action, alleging Bernard Findley and two of his companies owe nearly $750,000 in legal fees.

  • July 18, 2024

    Another Enphase Investor Suit Claims Execs Hid Slow Growth

    Enphase Energy's top brass has been slapped with another shareholder complaint in California federal court, alleging they misrepresented the energy technology company's financial outlook by concealing a decrease in battery shipments and slower manufacturing outputs, which artificially inflated its stock price.

  • July 18, 2024

    Mixed Results Greet 2 IPOs For Hospital Giant, Insurance Firm

    Private equity-backed hospital operator Ardent Health and insurance brokerage TWFG Inc. began trading Thursday after completing two initial public offerings that raised $379 million combined at varying points of their price ranges, guided by four law firms.

  • July 18, 2024

    Vermont Suit Accuses PBMs Of Price-Fixing

    Vermont's attorney general filed suit against pharmacy benefit managers Express Scripts and CVS Wednesday, accusing the companies of abusing their market power to drive up prescription costs for consumers and squeezing out price competition from small pharmacies.

  • July 18, 2024

    Pharma Biz Buys Animal Medicine Co. For Up To $520M

    Latham & Watkins LLP-advised animal health therapeutics company Invetx, which is currently owned by life sciences-focused investment management firm Novo Holdings, on Thursday announced plans to be bought by veterinary pharmaceuticals company Dechra Pharmaceuticals Ltd., advised by Kirkland & Ellis LLP, for up to $520 million.

  • July 18, 2024

    Womble Bond Adds Finance Atty With Latin America Focus

    Womble Bond Dickinson's growing New York office is welcoming a capital markets and structured finance attorney after his more than 10 years with Hogan Lovells, most recently in Brazil.

  • July 18, 2024

    6th Circ. Questions If Kellogg 401(k) Claims Can Be Arbitrated

    A Sixth Circuit panel on Thursday suggested the terms of Kellogg Co.'s retirement plan may bar a former accountant from bringing claims the plan was mismanaged, as the company tries to enforce an arbitration clause that arguably prevents planwide relief. 

  • July 18, 2024

    Kirkland-Led Calif. PE Firm Secures $1.5B For 3rd Fund

    Los Angeles-based private equity shop Kingswood Capital Management LP, advised by Kirkland & Ellis LLP, on Thursday announced that it clinched its third fund after raising $1.5 billion of capital commitments, bringing the firm's total assets under management to roughly $3.2 billion.

  • July 18, 2024

    Ex-HP Worker Revamps 401(k) Forfeiture Funds Suit

    A former HP employee retooled his lawsuit accusing the company of unlawfully using former workers' forfeited 401(k) funds to satisfy its own contributions, telling a California federal court the company was presented with a conflict of interest in deciding how to use the money.

Expert Analysis

  • Recruitment Trends In Emerging Law Firm Frontiers

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    BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.

  • Series

    Glassblowing Makes Me A Better Lawyer

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    I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.

  • What DOL Fiduciary Rule Means For Private Fund Managers

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    Attorneys at Ropes & Gray discuss how the U.S. Department of Labor's recently released final fiduciary rule, which revises the agency's 1975 regulation, could potentially cause private fund managers' current marketing practices and communications to be considered fiduciary advice, and therefore subject them to strict prohibitions.

  • What 11th Circ. Fearless Fund Ruling Means For DEI In Courts

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    The Eleventh Circuit's recent backing of a freeze on the Fearless Fund's grants to women of color building new companies marks the latest major development in litigation related to diversity, equity and inclusion and may be used to question other DEI programs targeted at providing opportunities to certain classes of individuals, say attorneys at Simpson Thacher.

  • Money, Money, Money: Limiting White Collar Wealth Evidence

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    As courts increasingly recognize that allowing unfettered evidence of wealth could prejudice a jury against a defendant, white collar defense counsel should consider several avenues for excluding visual evidence of a lavish lifestyle at trial, says Jonathan Porter at Husch Blackwell.

  • Unpacking The Latest Tranche Of Sanctions Targeting Russia

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    Hundreds of new U.S. sanctions and export-control measures targeting trade with Russia, issued last week in connection with the G7 summit, illustrate the fluidity of trade-focused restrictions and the need to constantly refresh compliance analyses, say attorneys at Ropes & Gray.

  • How Associates Can Build A Professional Image

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    As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.

  • Considerations For Cooperation Contracts In Loan Trades

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    Significant challenges to settling trades can arise when lenders of syndicated bank loans enter into defense-oriented cooperation agreements, which are growing in popularity, but working through these issues on the front end of a trade can save hours down the road, says Robert Waldner at Crowell & Moring.

  • Emerging Trends In ESG-Focused Securities Litigation

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    Based on a combination of shareholder pressure, increasing regulatory scrutiny and proposed rulemaking, there has been a proliferation of litigation over public company disclosures and actions regarding environmental, social, and governance factors — and the overall volume of such class actions will likely increase in the coming years, say attorneys at Mintz.

  • Firms Must Rethink How They Train New Lawyers In AI Age

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    As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.

  • Next Steps After 5th Circ. Nixes Private Fund Adviser Rules

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    The Fifth Circuit's recent toss of key U.S. Securities and Exchange Commission rules regarding private fund advisers represents a setback for the regulator, but open questions, including the possibility of an SEC petition to the U.S. Supreme Court, mean it's still too early to consider the matter closed, say attorneys at Debevoise.

  • Think Like A Lawyer: Always Be Closing

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    When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.

  • Expected Developments From Upcoming Basel Capital Rules

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    With U.S. federal banking regulators preparing to finalize the Basel IV regulatory framework as early as this fall, banks and private investment funds are expected to look to uncommitted facilities as one method to address key changes, including tighter capital requirements, say attorneys at Mayer Brown.

  • Continuation Funds: What You Need To Know

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    As the continuation fund market matures, the structure and terms of these transactions have become increasingly complex, presenting challenges that should be carefully navigated by participants to ensure a successful transaction process, say lawyers at Skadden.

  • Takeaways From Nat'l Security Division's Historic Declination

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    The Justice Department National Security Division's recent decision not to prosecute a biochemical company for an employee's export control violation marks its first declination under a new corporate enforcement policy, sending a clear message to companies that self-disclosure of misconduct may confer material benefits, say attorneys at Perkins Coie.

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